Will your business be here in 20 years?

Many people are reluctant to plan their post death arrangements. They somehow hope that all will work out well. , especially that the future that you wont be a part of.  Money and wealth causes a lot of trouble among siblings after their father or mother’s death.”

What about your company? What is your vision for it? Is it simply to feed you till you die, or like Mr  Nestlé, Arthur Guinness etc you envision a company that will outlast you. What are the benefits of good succession planning? ”

  • A means of ensuring that when the person who holds a key position, like the executive director or senior manager leave, thee organization has a written plan to support service continuity .
  • A message to your employees that they are valuable, and that makes them press on to greater responsibility to the company
  • A continuing supply of qualified, motivated people (or a process to identify them), who are prepared to take over when such key people leave.
  • A commitment to developing career paths for employees which will help you  to recruit and retain top-performing employees.
  • A vision of where the company is headed that demonstrates an understanding of the need to have appropriate staffing to achieve strategic plans

The absence of a succession plan can undermine an organization’s growth and its sustainability. Without a succession planning process, an organization may not have a means of ensuring that the programs and services that are crucial to its operation are sustained beyond the tenure of the individual currently responsible for them.

What are your company’s succession plans? Are they written in a document?suscession planning

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